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Author Question: Each firm in a cartel has an incentive to chisel because market price exceeds a. marginal cost. b. ... (Read 77 times)

nummyann

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Each firm in a cartel has an incentive to chisel because market price exceeds
 a. marginal cost.
  b. average cost.
  c. average variable cost.
  d. average fixed cost.

Question 2

All of the following are problems associated with maintaining a cartel except
 a. cartels are illegal.
  b. a large amount of information is needed to coordinate a cartel.
  c. profits are not maximized by a cartel so it will evolve into a monopoly.
  d. each member of the cartel has an incentive to chisel by expanding output.



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sabina576

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Answer to Question 1

a

Answer to Question 2

c




nummyann

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Reply 2 on: Jul 1, 2018
Excellent


ecabral0

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

 

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